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<br />. <br /> <br />RESOLUTION NO. 99-l0 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA APPROVING A DISPOSITION <br />AND DEVELOPMENT AGREEMENT <br />BETWEEN THE AGENCY AND THE SANTA <br />ANA AUTO MALL DEALERS' ASSOCIATION. <br /> <br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana <br />(hereinafter referred to as the "Agency") is engaged in activities necessary to execute and <br />implement the Redevelopment Plan for the South Main Redevelopment Project Area (the <br />RedevelopmentPlan"); and, <br /> <br />WHEREAS, in furtherance of the Redevelopment Plan the Agency proposes to <br />convey said certain property in the Project Area pursuant to the terms and provisions of that <br />certain "Disposition and Development Agreement" (the" Agreement") between the Agency <br />and The Santa Ana Auto Mall Dealers' Association (the "Developer") which is on file in the <br />office of the Executive Director of the Agency, in which said real property (the "Site") is <br />described; and, <br /> <br />I <br /> <br />WHEREAS, the Developer has submitted to the Agency a written offer to purchase <br />the Site in the fonn of the Agreement; and, <br /> <br />WHEREAS, the Agreement contains all of the provisions, terms, conditions and <br />obligations required by state and local law; and, <br /> <br />WHEREAS, the Developer represents that it possesses the qualifications and <br />financial resources necessary to acquire and insure development of the Site, in accordance <br />with the purposes and objectives of the Redevelopment Plan; and, <br /> <br />WHEREAS, the Agency has prepared and made available for public inspection and <br />copying in accordance with the California Community Redevelopment Law, a Summary <br />Report setting forth the following: the cost of the Agreement to the Agency; the estimated <br />fair market value of the Site at the highest and best uses permitted under the Redevelopment <br />Plan; the estimated fair reuse value of the Site at the use and with the covenants and <br />conditions and development costs authorized by the. Agreement, and ~e purchase pri~; <br />and, . <br /> <br />WHEREAS, pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing on the proposed <br />sale of the Site pursuantto the Agreement; and, <br /> <br />. <br />